150th Anniversary of the Civil War

April 12, 2011

Beltran, Mayra/Drake Well Museum and Park

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1860: Pennsylvania oil crash
The early U.S. oil industry experienced its first major crash just before the Civil War. In 1860, oil prices
rose to over $10 per barrel, but by the next year had plummeted to just 10 cents. Some Pennsylvania boom towns disappeared overnight as a result.

Beltran, Mayra/Drake Well Museum and Park

1of101

1860: Pennsylvania oil crash
The early U.S. oil industry experienced its first major crash just before the Civil War. In 1860, oil prices
rose to over $10 per barrel, but by the next year had plummeted to just 10 cents. Some Pennsylvania boom towns disappeared overnight as a result.